Non-Standard Finance PLC Share buy-back programme (8372V)
November 08 2017 - 2:00AM
UK Regulatory
TIDMNSF
RNS Number : 8372V
Non-Standard Finance PLC
08 November 2017
Non-Standard Finance plc
('Non-Standard Finance', the 'Company" or the 'Group')
Share buy-back programme
8 November 2017
The Group announces the commencement of a share buy-back
programme (the 'Programme') to repurchase up to 5 million ordinary
shares of 5 pence in the Company. The Programme will commence on 8
November 2017 and will end no later than 7 November 2018 (the
'Engagement Period'). Purchases may continue during any closed
periods of the Company during the Engagement Period. The aggregate
purchase cost of shares purchased under the Programme will not
exceed GBP4.25 million.
Background
The Company has appointed Shore Capital Stockbrokers Limited
('Shore Capital') to execute and manage the Programme and has given
a non-discretionary irrevocable instruction to Shore Capital to
acquire ordinary shares in the Company for subsequent repurchase by
the Company.
All trading decisions made by Shore Capital in relation to the
Programme will be made independently of, and uninfluenced by, the
Company and any shares so purchased will be delivered to the
Company during the Engagement Period. Any purchases of its ordinary
shares by the Company will be effected within pre-set parameters
set out in Shore Capital's engagement letter, and in accordance
with the Company's existing AGM authority to repurchase ordinary
shares (at the AGM in 2017, shareholders gave the Company authority
to purchase a maximum of 31,704,968 ordinary shares), the Financial
Conduct Authority's Listing Rules and the provisions of the Market
Abuse Regulation 596/2014/EU ('MAR'), including any relevant price
thresholds and any volume limits for the purposes of the safe
harbour for buy-backs provided under Article 5 of MAR.
The Company will announce any market repurchase of ordinary
shares no later than 7.30 a.m. on the business day following the
calendar day on which the repurchase occurred. To the extent
permitted by law, the Company intends to hold all ordinary shares
so purchased in treasury for the purpose of satisfying future
obligations in relation to its employees' or other share schemes
eligible under the safe harbour for buy-backs provided under
Article 5 of MAR.
Shore Capital may undertake transactions in the Company's
ordinary shares during the Engagement Period in order to manage its
market exposure under the Programme.
For more information:
Non-Standard Finance plc
Peter Reynolds, Director, IR and +44 (0) 20
Communications 3869 9026
Shore Capital +44 (0) 20 7468
Mark Percy 7959
This information is provided by RNS
The company news service from the London Stock Exchange
END
POSBRBFTMBJMBRR
(END) Dow Jones Newswires
November 08, 2017 02:00 ET (07:00 GMT)
Non-standard Finance (LSE:NSF)
Historical Stock Chart
From Apr 2024 to May 2024
Non-standard Finance (LSE:NSF)
Historical Stock Chart
From May 2023 to May 2024